[ad_1]
Currency technical analysis is the most time efficient way to trade currencies and one of the most profitable - here we will show you how to use Currency trading charts, correctly and build yourself a great second or even life changing income, in around 30 minutes a day...
The big advantage of using charts is all you need to do is spot trends and repetitive price patterns and that's a learned skill. As all news is quickly discounted in the price, you don't need to follow or read the news, you simply follow the reality of price change as you see it on a chart.
As human nature is constant, it shows up in repetitive chart patterns which can give you high odds trading opportunities you can turn into profits. The key to using charts is keep your strategy very simple and the reason for this is - your strategy will be more robust, with fewer elements to break than a complex strategy.
All you need to do is spot the basic chart patterns and then add a few indicators to confirm your trading signals. The ones you choose are up to you but I only use 3 and they are, Bollinger Bands which show volatility and the stochastic and RSI which gauge the strength of the price trend. You can learn these visual indicators, in around a day or less, so make them part of your essential currency trading education.
When using currency charts, forget about trading the short term noise of the market and avoid day trading or scalping strategies, you will make a lot of effort but end up taking low odds trades and losing. Instead, trade the big trends that make the big profits; you will see them on any currency chart and they will last for weeks or months. If you can lock into these big trends, you can make huge gains with leverage on your side.
When using currency technical analysis never try and predict where prices may go - this is a key error novice traders make. Prediction is just hoping or guessing and that's not a smart way to trade; you can't buy the very bottom or sell the exact top so don't try.
If you want a sound way of using currency charts and want to trade the way the millionaire traders do, trade breakouts. Check a currency trend and you will see that any bull trend, starts by breaking to new market highs and continues breaking to new highs as the trend develops. It's a great way to trade and allows you to get in on all the big trends, with the best risk to reward.
So if you want to make money trade the long term trends via breakouts with a simple robust system and trade with discipline and you will be on the road to currency trading success in around 30 minutes a day.
[ad_2]
Source by Samuel Leslie Berkovits
No comments:
Post a Comment